• Gold price scales higher for the third successive day and moves back closer to the YTD peak.
• Expectations for an imminent Fed rate hike pause weigh on the US Dollar and lend support.
• Looming recession risks provide an additional boost to the safe-haven metal and favour bulls.

Gold price gains positive traction for the third successive day on Thursday and extends its steady intraday ascent through the first half of the European session. The XAU/USD currently trades around the $2,030 region, just below the YTD peak touched last week and seems poised to build on its recent strong gains recorded over the past month or so.